Option reading index is (-) 0.24 down from last trading figure of (-) 4.74 indicative of selling back again. This down read with enhanced volatility at 1.31 (previous day 1.28) indicate range may touch 2 std deviation.
Weekly
On std param, price closed above 20 MA. Took support at kijunsen 5729. Range move between TS & KS. Cloud Span B steadily rising with downside support at 5506.95 and line A at 5871.88. Oscillators neutral. On std param, nifty continues to be bullish.
On short param, price closed above 20 MA. Tenken (5879) / Kijun (5988.95) bearish cross. Price closed below TS. Cloud Span B steadily rising with downside support at 5843.7 and line A at 5934.38.
Daily
On Std Param, Price closed in Clouds. Resistance at Tenken 5895.30, Span B line 5954.86, Kijun / Span A parallel at 6014.42. Span B rising gradually indicate undercurrent is bullish.
On Short Param, Price closed just above Tenken at 5840.58. Span B / Kijun parallel at 5879.80. Span A line at 5860.24. The rally maybe short one as kijunsen / span B line progress parallel flat with Chikou span & Tenken sloping down.
Cautious trading times....
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